City AM – Badenoch told to bring back audit reform
The front page of the London business paper, City AM, says Kemi Badenoch is under pressure from a top City group to revive a sweeping shake-up of audit rules after the government shelved many of its reform plans last year.
The audit watchdog, the Financial Reporting Council (FRC), revealed long-touted measures to strengthen the standards of audits and reporting for listed companies last year in response to a string of high-profile corporate collapses.
However, the FRC was forced to dramatically prune the plans after ministers omitted a required bill from the King’s Speech last year and told the regulator to focus on growth.
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